Access CIG reveals OID talk on incremental first-, second-lien loans

By Sara Rosenberg

New York, June 6 – Access CIG LLC launched on Wednesday its fungible $85 million incremental first-lien term loan due February 2025 with original issue discount talk of 99.75 and its fungible $20 million incremental second-lien term loan due February 2026 with discount talk of 99.5, according to a market source.

Pricing on the incremental first-lien term loan is Libor plus 375 basis points with a 0% Libor floor, and pricing on the incremental second-lien term loan is Libor plus 775 bps with a 0% Libor floor, in line with the existing term loans.

Like the existing loan, the incremental first-lien term loan has 101 soft call protection until August 2018 and the incremental second-lien term loan has hard call protection of 102 until February 2019 and 101 until February 2020.

Jefferies LLC is the lead arranger on the $105 million in incremental term loans.

Commitments are due at 1 p.m. ET on Monday, the source added.

Proceeds will be used to help fund an acquisition that is expected to close during the week of June 11.

Access CIG is a Livermore, Calif.-based provider of physical and digital records and information management services.

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